How to negotiate a debt settlement
You can negotiate with your creditors to settle your debt by paying a lump-sum amount that’s less than what you owe. Here’s how.
8 min read
Feb 12, 2025
Michelle Clardie
EXPERTISE
- Debt management
- Investment
- Credit repair
Michelle Clardie is a seasoned investor who’s been writing professionally about saving and investing since 2017. She used the investment advice she covered to quit her day job in property tax consulting and move abroad, writing her way from one country to the next.
With a Master's in Business Management and Strategy from WGU, Michelle specializes in making complex personal finance topics easy to understand. You may have seen Michelle’s work on:
- Websites for notable financial institutions like PNC Bank and Omaha Mutual,
- Informational websites like coverage.com, interest.com, and mortgage.com,
- And financial blogs like Get Rich Slowly and Wallet Hacks.
Michelle's latest articles
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Secured vs. unsecured debt: What’s the difference?
Knowing the difference will help you decide which types of loans work best for you.
6 min read Feb 03, 2025 -
How to pay huge medical bills on a small income
The government, as well as your providers, might be able to help with your exorbitant medical bills.
7 min read Dec 09, 2024 -
Should I file bankruptcy for $12K debt?
Bankruptcy isn’t a cure-all. You should avoid it if you can’t afford these consequences.
6 min read Nov 15, 2024 -
Can I defer Chapter 13 bankruptcy payments?
With a smaller paycheck, it may be necessary to alter how much you can pay back in bankruptcy.
6 min read Nov 15, 2024 -
What nonprofit debt consolidation is and how it works
Here’s what to consider to help you determine if free debt consolidation is a good fit for you.
5 min read Jul 16, 2024